Financing a Car Through Principle Toyota of Memphis

Financing a Car Through the Dealership

Principle Toyota of Memphis is the best option for financing.


Car financing gives all of us a way to buy new cars in a flexible and affordable way. When seeking auto loans, some are drawn to the offerings of banks, credit unions and other lenders, but today we're here to make the case for why Principle Toyota of Memphis itself is always the best option for financing.

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Pros of Financing Through Principle Toyota of Memphis

Ease and Convenience

When you finance through Principle Toyota of Memphis, you are getting all of your services done under one roof. There's no need to set up additional appointments or contact with banks or credit unions, and therefore no need for you to navigate all the paperwork (online or offline) by yourself.

Principle Toyota of Memphis staff are well versed and trained in the various procedures and can get everything prepared for you very quickly. Handling a relatively complex matter like the purchase of a car under one roof makes life much easier.

Bigger Loan Amounts Available

A bank or credit union might not be willing to lend you as much as you need to access a higher trim level or a better model of car. This leaves you to either settle on a cheaper model that the bank loan will cover, or simply cover the difference yourself. Principle Toyota of Memphis is normally more flexible in offering greater amounts that cover the entire cost of a vehicle.

Larger loan amounts may not be available to every customer, but the chances of getting a larger loan that covers the full cost of a nicer model are greater at Principle Toyota of Memphis than either at the bank or credit union.


Where a bank or credit union would be quite strict on how long you could borrow the money for, perhaps 4 years (48 months) at the most, Principle Toyota of Memphis can offer much more flexible terms. You could get a loan for a period of 60 months, 72 months or possibly more depending on the dealership and the amount in question.

Principle Toyota of Memphis might also throw in other incentives with their loans, such as servicing, additional accessories for the car, and whatever else they might be willing to do in order to secure your signature on the dotted line. Banks won't go beyond the strict terms of the finances.

Room for Negotiation

Principle Toyota of Memphis understands very well that if we can't secure a deal with you on this car, then you might go to a rival dealership and get one there. They are therefore more open to discuss all the terms of the agreement. You won't typically find this willingness to negotiate in banks or credit unions.

Cons Of Financing Through Banks

Always with the Interest

As we touched on further above, a bank or credit union uses interest as its profit center. It is therefore impossible to get any deal with zero-percent APR, regardless of how good your credit score is. You could enjoy very low rates, but they can't hit that "zero" sweet spot.

More Paperwork and "Juggling"

When you sign a finance agreement with a bank, then that's just another "actor" in your overall automotive story. It's one more set of people and another set of separate paperwork that you have to deal with. That makes the entire process more complex, and means you have to track and "juggle" additional information from multiple sources. It's far easier to keep it all in one place, if possible.

No Negotiation

Banks will give you their best rates and that will be the bottom line. They will take all factors into account and give you their offer. They have certain "red lines" that they cannot cross and their representatives have little or no ability to make changes to those lines. That makes for a "no-negotiation" situation, in the end.

Conclusion: In the End, the Dealership Makes Most Sense

In the past, there may have still been reasons to consider banks or credit unions for an auto loan, but in the modern day, the best option has proven itself time and again to be Principle Toyota of Memphis. Whatever the downside, the sheer convenience, flexibility and space for negotiation make it worthwhile. The overall trend in the automotive market favors simplification, and Principle Toyota of Memphis financing is a part of that.